The race was won by Wiles' team mate Lindsey Vonn.
"We are all extremely disappointed that Jackie suffered this injury so close to the Games," said Luke Bodensteiner, U.S. Ski & Snowboard Chief of Sport, in a statement.
"It’s a big loss to our alpine ski team, especially after her very strong results this season."
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Wiles, who competed in the downhill at the Sochi Games, finished third in the downhill in Cortina d'Ampezzo, Italy last month.
A decision on whether Wiles will be replaced in the U.S. squad had yet to be made, the statement said.
The Olympics run from Feb. 9-25 in Pyeongchang, South Korea.
(Writing by Peter Rutherford in Pyeongchang; Editing by Amlan Chakraborty)
